AskImamDarul Iftaa Mahmudiyyah (AskImam)

Is it allowed to take loan from the bank with interest?

Fatwa 3152English
Finance and Commerce

Question

Due to my family getting increase, my home is becoming conjusted and difficult to stay. I have two elder brothers both have got married and having there kids. Myself is still single and planning to get marry in the next year. I want get a flat or build new house but i don't have that much money. So can i take loan from bank? In this condition is it allowed for me?

Answer

It is not permissible for you to take out an interest bearing loan for the purpose mentioned by you.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai
FATWA DEPT.

Answered by
Mufti Ebrahim Desai
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